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Positive First-Quarter Data Point To A Global, Sustained Economic Boom
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ETH smashes records, Bitcoin s brilliant quarter, PayPal s big move
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Apr 9, 2021 06:06 GMTCrypto News
BNY Mellon will be the ETF service provider for First Trust Advisors and SkyBridge Capital once it is approved by the Securities & Exchange Commission.
An expert suggested that a Bitcoin ETF approval by the regulator could come in a year or two.
Bitcoin ETF proposals continue to grow as the adoption of cryptocurrencies has reached a tipping point.
The oldest bank in the United States will become the service provider for a proposed Bitcoin exchange-traded fund (ETF) by First Trust Advisors and SkyBridge Capital.
BNY Mellon to provide Bitcoin ETF basket operations
BNY Mellon has recently announced that it would be the Bitcoin ETF service provider for the fund following an approval by the US Securities & Exchange Commission (SEC).
Crypto Space Has Hit A Tipping Point Ses Tom Jessop From Fidelity
Last Updated: 09 April 2021
Fidelity, a global investment giant, has had its executives express confidence that the crypto markets will continue in their forward momentum for the foreseeable future.
Jessop Bullish For Crypto
Tom Jessop gave this sentiment on the 8th of April, 2021, when he spoke to MarketWatch. Jessop stands as Fidelity’s Head of Crypto division and is convinced that crypto has allowed for a brand new chapter when it comes to traditional finance. Furthermore, he’s convinced that the entire crypto space is at a tipping point.
Price Analysis
Hong Kong tech company Meitu revealed on April 8 that it had added $10 million worth of Bitcoin (BTC) to its holdings which were purchased at an average rate of $57,000 per coin. After the latest purchase, Meitu’s total cryptocurrency portfolio consists of $49.5 million worth of Bitcoin and $50.5 million worth of Ether (ETH). This acquisition shows that institutional investors are confident that the rally in Bitcoin is still in its early stages.
Tom Jessop, Fidelity’s head of the crypto division, believes that Bitcoin has reached a tipping point and that traditional finance companies will continue to adopt cryptocurrency aggressively in the next few years. Jessop believes the massive monetary stimulus from governments and central banks has accelerated institutional adoption and this is a trend that could extend for at least another year.
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